Tobias Lütke on Shopify competing with Amazon

If anything, Amazon is trying to build an empire and Shopify is trying to arm the rebels.  So maybe some of our customers might compete with Amazon at some point, but that would be super cool... so maybe, one day.

~ Tobias Lütke, tweet, October 11, 2019

Kevin Duffy on amateur hour at the casino (2021)

Christoph Gisiger: What's your general advice for investors who want to invest their money in a reasonable and prudent way in this challenging environment? 

Kevin Duffy: If you want to live off the grid and live off of fruits, berries or coconuts, that’s one thing. But if you want to accumulate wealth or protect it, you’re in the investment game. You don’t have a choice. So you have to ask yourself: Who are your competitors out there? First of all, I don’t want to compete in the short-term trading arena with high frequency traders like Ken Griffin, the CEO of Citadel. That’s like competing against Tiger Woods on the golf course. The reason why guys like Griffin are doing so well is because you have a bunch of amateurs trying to compete with them.

~ Kevin Duffy, "The Next Bear Market Has Already Started," The Market/NZZ, July 1, 2021

Kevin Duffy on how great investors and companies are antifragile

Defense wins championships.  Great investors go to the head of the line by being prepared for a bear market and in a position to benefit from forced selling.  Likewise, great companies get stronger in recessions because they're built for survival.

~ Kevin Duffy, tweet, May 19, 2022

Warren Buffett on how accurately CPI measures inflation

I think overall, for a typical young family, the CPI probably underestimates the burden they have faced, in terms of their own living standards.

~ Warren Buffett, "Warren Buffett DESTROYS Consumer Price Index (CPI)," YouTube, May 4, 2022

Ernest Hemingway on happiness and intelligence

Happiness in intelligent people is the rarest thing I know.

~ Ernest Hemingway

Confucius: "We have two lives"

We have two lives, and the second begins when we realize we only have one.

~ Confucius

Paul Volcker on the late '90s tech bubble

The fate of the world economy is now totally dependent on the U.S. economy, which is dependent on the stock market, whose growth is dependent on about 50 stocks, half of which have never reported earnings.

~ Paul Volcker, May 14, 1999